Your Committee on Agriculture, Natural Resources and Rural Development , to which was referred House Bill 1975 , has had the same under consideration and begs leave to report the same back to the House with the recommendation that said bill be amended as follows:
" (5) Include the following terms of payment:
(A) The basis of payment.
(B) The payment method.
(C) The payment schedule.
(D) The effect of change in market price on contract price, if any.
(E) The penalty for late payment.
(F) The assignability of payments.
(G) The decision whether payment may be made copayable to the producer's lender.
(H) The responsibility for payment of the paying party's parent company, if the paying party is a subsidiary company.".
Page 2, delete lines 40 through 42.
Delete pages 3 through 7.
(Reference is to HB 1975 as introduced.)
and when so amended that said bill do pass.